Seeking Alpha

AeroVironment, Inc. (AVAV)

  • Yesterday, 5:39 PM
    | Yesterday, 5:39 PM | Comment!
  • Yesterday, 5:23 PM
    • AeroVironment (NASDAQ:AVAV) has fallen to $21.84 after hours following its FQ1 miss. Drone (UAS) division sales fell 2% Y/Y to $40.2M; EV charging system (EES) division sales fell 36% to $6.9M.
    • In spite of the FQ1 miss, AeroVironment is maintaining FY16 (ends April '16) revenue of $260M-$280M (consensus is at $269.4M) and gross margin of 36%-37.5%. A likely reason: Funded backlog totaled $89M at the end of FQ1, up 37% Y/Y.
    • Gross margin rose to 34% from 27% a year ago, and operating expenses rose 22% Y/Y to $25.1M. AeroVironment ended FQ1 with $261M in cash/investments, and no debt.
    • FQ2 results, PR
    | Yesterday, 5:23 PM | Comment!
  • Yesterday, 4:11 PM
    • AeroVironment (NASDAQ:AVAV): FQ1 EPS of -$0.24 misses by $0.09.
    • Revenue of $47.05M (-9.3% Y/Y) misses by $6.87M.
    • Shares +0.24%.
    • Press Release
    | Yesterday, 4:11 PM | Comment!
  • Mon, Aug. 31, 5:35 PM
  • Mon, Aug. 24, 12:00 PM
    • Since May 1, AeroVironment (AVAV -2.6%) has received ten orders worth a combined $47.1M from the U.S. Army. The orders cover AeroVironment's RQ-11B Raven and RQ-20A Puma AE drones.
    • AeroVironment notes the Raven, used for low-altitude surveillance/recon missions, is "the most widely-used UAS in the world." The Puma is a smaller drone used for land-based and maritime operations.
    • AeroVironment's UAS division revenue rose 13% Y/Y in FQ4 (the April quarter) to $78.7M. FQ1 results arrive after the close on Sep. 1. Shares are lower (albeit off their early-morning lows) amid a broad market selloff.
    | Mon, Aug. 24, 12:00 PM | 2 Comments
  • Mon, Jul. 13, 11:03 AM
    • AeroVironment (NASDAQ:AVAV) is up 3.6% following presentations on an analyst day that led to a positive update note from Canaccord Genuity's Bobby Burleson.
    • Canaccord has a Hold rating on the shares with a $30 price target. Shares closed yesterday at $27.16 and are trading currently at $28.14.
    • "We view long-term growth opportunities for both commercial drones and charging products as positive," Burleson notes, "however higher spending creates uncertainty around results looking into fiscal 2016 prompting us to maintain a HOLD rating."
    • The analyst day featured presentations on the company's unmanned aircraft systems and EV charging systems segments as well as flight demos and a facility tour.
    • Previously: AeroVironment names tech vet its new CFO (Jul. 07 2015)
    | Mon, Jul. 13, 11:03 AM | Comment!
  • Tue, Jul. 7, 4:46 PM
    • Raymond Cook, formerly the CFO of chipmaker Silicon Image (recently acquired) and before that the CFO of SSD maker STEC (also acquired), has been named AeroVironment's (NASDAQ:AVAV) CFO, effective immediately.
    • Jikun Kim, AeroVironment's last full-time CFO, resigned in February to "pursue other business opportunities." Finance VP Teresa Covington has been serving as interim CFO since.
    | Tue, Jul. 7, 4:46 PM | Comment!
  • Wed, Jul. 1, 5:36 PM
    | Wed, Jul. 1, 5:36 PM | 8 Comments
  • Wed, Jul. 1, 12:49 PM
    | Wed, Jul. 1, 12:49 PM | 1 Comment
  • Wed, Jul. 1, 10:06 AM
    • AeroVironment (AVAV +7.1%) is up in early trade after heavily beating profit and revenue expectations.
    • "We continue to deliver certainty and reliability to our customers and remain the leader in electric vehicle testing, charging systems and small unmanned aircraft systems," said CEO Tim Conver.
    • For fiscal 2016, the company expects to generate revenue of between $260M-$280M and a gross profit margin of between 36%-37.5%. Planned increases in R&D and SG&A for Commercial UAS in fiscal 2016 may largely offset operating profit in the current fiscal year.
    • FQ4 results
    | Wed, Jul. 1, 10:06 AM | Comment!
  • Tue, Jun. 30, 4:12 PM
    • AeroVironment (NASDAQ:AVAV): FQ4 EPS of $0.32 beats by $0.14.
    • Revenue of $86.47M (+17.6% Y/Y) beats by $0.76M.
    • Shares -2.34%.
    • Press Release
    | Tue, Jun. 30, 4:12 PM | Comment!
  • Mon, Jun. 29, 5:35 PM
  • Mon, Jun. 29, 4:09 PM
    • Engaged Capital send a letter to the board at AeroVironment (NASDAQ:AVAV) calling for it to support declassifying itself.
    • 70% of all shareholders supported the measure in a non-binding vote.
    • The hedge fund wants the proposal on the agenda at the AeroVironment annual meeting.
    | Mon, Jun. 29, 4:09 PM | Comment!
  • Thu, Jun. 18, 3:54 AM
    • U.S. commercial drone operations could take off on a large scale by next June, after FAA officials said they expect to finalize regulations for the unmanned aircraft within the next 12 months.
    • The news has commercial drone operators hoping for looser terms than the proposed regulations announced in February. Those rules required drones to fly during daylight hours only, remain within an operator's visual line of sight and stay at a 500 foot ceiling.
    • Commercial drone-related stocks: AMBA, AMZN, AVAV, DPZ, HON, INVN, IXYS, GPRO, TRMB
    | Thu, Jun. 18, 3:54 AM | 30 Comments
  • Thu, Apr. 30, 6:06 PM
    • Wahid Nawabi, the head of AeroVironment's (NASDAQ:AVAV) EV charging system unit (EES) since 2011, has been promoted to the role of COO. Both the heads of EES and AeroVironment's UAV unit (UAS) will report to him.
    • In addition, UAS chief Roy Minson is stepping down from his current position to "lead the company's strategic entry into the emerging [commercial drone] market." Like Nawabi, he'll continue reporting to CEO Tim Conver.
    • Kirk Flittie, former the head of AeroVironment's large UAV business, will now be in charge of UAS. Kenneth Karklin, formerly in charge of quality systems, manufacturing engineering, and services, will run EES.
    | Thu, Apr. 30, 6:06 PM | Comment!
  • Wed, Mar. 4, 2:27 PM
    • Up AH yesterday after missing FQ3 revenue estimates, beating EPS estimates, and reiterating FY15 guidance, AeroVironment (NASDAQ:AVAV) is now off sharply. Shares are less than $1 above a 52-week low of $24.73.
    • On the CC (transcript), CEO Tim Conver stated AeroVironment doesn't expect a decision regarding a Phase III contract  for DARPA's TERN program until FY16; AeroVironment won a $19M Phase II TERN contract for a maritime UAV system last October.
    • A couple of analysts quizzed the company in the Q&A about R&D spending, which is currently behind plan. Conver: "We're trying to play catch up in Q4."
    • SA author AtonRa Partners likes the FQ3 numbers, albeit while cautioning FY16 "could be another transition year with limited revenue momentum and still high R&D investments pressuring earnings," given major new projects aren't expected to contribute meaningfully in the near-term. "[W]e are confident AeroVironment will build a leading position over the years in commercial drones. But admittedly, the short term is likely to remain unexciting."
    | Wed, Mar. 4, 2:27 PM | Comment!
Visit Seeking Alpha's
AVAV vs. ETF Alternatives
Company Description
AeroVironment Inc is engaged in the design, develop, produce, support and operate a technological portfolio of products and services. It supplies unmanned aircraft systems, UAS, tactical missile systems and related services within the US DoD.